Ferrari Says Majority of Sales Will Be EVs, Hybrids by 2030

Matt Posky
by Matt Posky

Last week, news broke that Ferrari was plotting a third assembly line in Maranello dedicated entirely to EV production. But this turned out to be little more than a preamble for the obligatory announcement that the company would eventually transition toward building electric vehicles.

On Thursday, the Italian automaker told investors that all-electric and hybrid models will make up 80 percent of its global sales volume by 2030. This is to be done via a slew of new products it hopes to launch between now and 2026. Though the first Ferrari to run exclusively on battery power isn’t scheduled to arrive until 2025. According to the manufacturer, it’s plotting to launch 15 new vehicles as part of the overarching strategy. While some of those will undoubtedly be duplicates boasting open-air cockpits and slightly different powertrains, it has still got to be some kind of record for the brand.

That said, it looks as though Ferrari expects the hybrid models to do the heavy lifting until European and Chinese mandates force its hand. The company expects its upcoming fully electric cars to account for just 5 percent of its sales initially. However, it’s targeting battery electric vehicles (BEVs) to be roughly 40 percent of its volume by 2030. Hybrid models are assumed to have an inverse trajectory, starting at 55 percent in 2025 (a sizable increase from the 20 percent witnessed in 2021) before matching its purely electric products’ 40 percent in 2030.

“We believe we can use the electric engine to enhance the performance of our cars,” CEO Benedetto Vigna told investors.

There’s certainly reason to believe they can. Most of the brand’s fastest-accelerating cars already use some form of hybridization. The LaFerrari utilized a 6.3-liter V12 MHEV (mild hybrid) to slap 60 mph in just 2.5 seconds and the SF90’s 4.0-liter V8 Bi-Turbo PHEV (plug-in hybrid) manages the same thanks in part to its trio of electric motors.

Ferrari said it’s planning to invest 4.4 billion euros ($4.58 billion) by 2026 with a strong emphasis on vehicle development. Earnings before interest, taxes, depreciation, and amortization (EBITDA) are presumed to rest between 2.5 billion and 2.7 billion euros by then. Electric motors will be built in-house, along with the necessary battery modules. Production and subsequent vehicle assembly will take place at the expanded assembly facility in Maranello, Italy. But Vigna said that some of the “non-core components” will need to be outsourced.

Considering former CEO Louis Camilleri had stated Ferrari would never go all-electric in 2020, adding that he couldn’t even see 50 percent electrification within his lifetime, this represents a seismic change for a brand that literally trades on combustion noises and motorized excess. But Camilleri abandoned ship not long after making those comments, handing the reigns to chairman John Elkann — who has been much more welcoming of EVs.

Elkann told investors he believed electrification would allow the brand to produce “make even more unique cars” than it had in the past. Though he vowed that they would all be “distinctively Ferrari.”

[Image: Veyron Photo/Shutterstock]

Matt Posky
Matt Posky

A staunch consumer advocate tracking industry trends and regulation. Before joining TTAC, Matt spent a decade working for marketing and research firms based in NYC. Clients included several of the world’s largest automakers, global tire brands, and aftermarket part suppliers. Dissatisfied with the corporate world and resentful of having to wear suits everyday, he pivoted to writing about cars. Since then, that man has become an ardent supporter of the right-to-repair movement, been interviewed on the auto industry by national radio broadcasts, driven more rental cars than anyone ever should, participated in amateur rallying events, and received the requisite minimum training as sanctioned by the SCCA. Handy with a wrench, Matt grew up surrounded by Detroit auto workers and managed to get a pizza delivery job before he was legally eligible. He later found himself driving box trucks through Manhattan, guaranteeing future sympathy for actual truckers. He continues to conduct research pertaining to the automotive sector as an independent contractor and has since moved back to his native Michigan, closer to where the cars are born. A contrarian, Matt claims to prefer understeer — stating that front and all-wheel drive vehicles cater best to his driving style.

More by Matt Posky

Comments
Join the conversation
2 of 20 comments
  • ToolGuy ToolGuy on Jun 17, 2022

    Demand. Destruction. (I think my plan of moving to Texas to become an oil baron might have some deficiencies...)

  • Good ole dayz Good ole dayz on Jun 17, 2022

    Producing (or desiring) an EV "Ferrari" over an all gas Ferrari with a gated shifter manual transmission is akin to lusting after Bruce ("Caitlin") Jenner over Kathy Ireland.

  • Varezhka Suzuki Jimny, Toyota Century, and I know it technically just ended production but Honda e.
  • CoastieLenn For those that care to read the details of the crash NOT included in this article but published elsewhere- this happened at nearly 10pm when the CRV was stopped in the center lane of travel, lights off, with the driver remaining in the car. Not only is it not known if Blue Cruise was being used, it would have been a nightmare for most alert human drivers to mitigate that driving the 70+mph speed limit on many sections of I-10 in Texas, much less an AV system.
  • Jeff This is what I would want: Toyota has now released an affordable truck called the Toyota IMV 0. The newly developed vehicle made in Thailand comes with a rear-wheel drive and a gasoline 2.0-liter inline-four matched to a 5-speed manual transmission. NEW $10,000 Toyota Pickup Has Ford & GM Crapping ... YouTube · Tech Machine 8 minutes, 46 seconds Dec 26, 2023
  • Jalop1991 At the same time, let's take these drivers off the road--at least the ones that haven't yet taken themselves off the road.I can guarantee, at no point was this guy or any of the dead Tesla-stans actually driving the car. They were staring at their phones, because, HEY, SELF DRIVING!!
  • 3-On-The-Tree To Maintenance Costs His best friend did the union meetings and he said that there wasn’t a lot of negotiating taking place between the union and state because they were happy with how the state was treating them. He said it seemed more like a formality having the union.
Next